Effects of Impulse Buying - JSS2 Business studies Lesson Note

3. Effects of Impulse Buying:

• Financial Implications: Impulse buying can have significant financial consequences, leading to overspending, debt accumulation, and financial insecurity. Individuals may exceed their budget or purchase items they cannot afford, jeopardizing their financial stability and long-term goals.
• Emotional Impact: Impulse buying can evoke feelings of guilt, regret, and dissatisfaction, particularly when individuals realize they have made impulsive purchases without considering their needs or priorities. This can negatively affect mental well-being and self-esteem.
• Clutter and Waste: Impulse buying often results in the accumulation of unnecessary possessions and clutter in the home. Unused or unwanted items may end up being discarded or wasted, contributing to environmental issues such as pollution and resource depletion.
• Impact on Decision-Making: Habitual impulse buying can erode self-control and decision-making skills, making individuals more susceptible to impulsive behavior in other areas of life. It can also perpetuate a cycle of instant gratification and dissatisfaction, as impulsive purchases may not fulfill long-term needs or desires.